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MARINE LOGISTICS CORPORATION

(Marine Leasing Corporation, Marine Power and Equipment Company)

Operated as the marine transportation affiliate of the Marine Power and Equipment Company of Seattle, Washington.

Marine Power & Equipment Company was established in 1946 and became a significant shipbuilder in 1978, when it won a contract to build six ferries for Washington State. It grew rapidly in the next few years and went bankrupt in 1985. It emerged from bankruptcy in 1988 as an ESOP-owned company called United Marine Shipbuilding, or Unimar, which cut back its operations to a limited amount of repair work, but closed in 1993.

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